Daily Stock News Today – 05.12.2017
* BANK OF MAHARASHTRA: The bank's qualified institutional placement opened on Monday and the floor price for the issue has been set at 26.89 rupees per share.
* COLGATE PALMOLIVE INDIA: The board will consider second interim dividend on Dec 11 for the 2017-18 (Apr-Mar).
* EROS INTERNATIONAL MEDIA: Eros International, the parent of the company, has entered into
definitive agreement to raise $100 mln from an institutional investor.
* GODREJ INDUSTRIES: Plans to invest 500 mln rupees in its newly launched home furniture brand 'Script'.
* INDIAN OIL CORP: Has said that the impact of goods and services tax would be nearly 42 bln rupees as it would not be able to claim input tax credit for automotive fuels that fall outside GST. The talk of a complete phase out of fossil fuel powered vehicles by 2030 and the possible dominance of the roads by electric vehicles does not seem to have ruffled India's biggest oil refiner, the company, which says it will continue to make business-as-usual plans for its future.
-The company's partners in six pre-New Exploration and Licensing Policy blocks will have to share royalty, cess and other government charges with the state firm in proportion to their stakes, ending the current practice of the company alone bearing state levies for entire production.
* INFOSYS: Firm might be bracing up for another round of restructuring of its senior personnel.
* INSILCO: The board has approved discontinuation and cancellation of earlier proposal for implementation of coal fired hot air unit.
* INTERGLOBE AVIATION: The Delhi High Court has reserved its order on a plea filed by the company against shifting part of IndiGo's operations from Terminal-1 to Terminal-2 of Indira Gandhi International Airport.
* JSW STEEL: Arm JSW Infrastructure is looking to hire 30 ships that can move on sea and river carrying cargo between its Jaigarh and Dharamtar ports for the group's steel plant and the upcoming cement unit at Dolvi along Amba river in Maharashtra.
* JUBILANT LIFE SCIENCES: Has not received any formal approval from the government for its
application to obtain environmental clearance to set up a pesticide plant in the special economic zone at Bharuch in Gujarat.
* JUST DIAL: Two Sequoia Capital-owned funds have sold 1.5% stake, or 1.03 mln shares, of the company in separate bulk deals on the National Stock Exchange.
* MONSANTO INDIA: India's anti-trust regulator has fined the company 15 mln rupees for being too slow in replying to questions in a competition probe into the US seeds company.
* NESTLE INDIA: The board approved an interim dividend of 33 rupees per share.
* PUNJAB NATIONAL BANK: Got shareholders' approval for raising 50 bln rupees either through Qualified Institutional Placement or rights issue.
* RELIANCE COMMUNICATIONS: Fortuna Public Relations became the fifth company to file for an insolvency petition against the company to recover dues worth 4.3 mln rupees from the telecom company.
* RELIANCE INFRASTRUCTURE: The Supreme Court refused to grant early hearing to a plea seeking a probe into how the company was allowed to divert coal meant for its Sasan ultra mega power project. The Bombay High Court has struck down a proposal to hike fares of Mumbai Metro and directed the fare fixation committee to decide on the issue within three months.
* RURAL ELECTRIFICATION CORP: The company and Indian Railway Finance Corp could raise at least $600 mln by selling dollar bonds to investors in Asia and Europe in the next 10 days.
* SATHAVAHANA ISPAT: Andhra Bank has tagged the company as a non-performing asset because the debt restructuring under the Scheme for Sustainable Structuring of Stressed Assets was not feasible.
* SOBHA LTD: Plans to spend 30 bln rupees in construction cost to build 7-10 mln sq ft in four to six quarters.
* TATA COMMUNICATIONS: The company has earmarked a capital expenditure of $20-25 mln for its overall cloud business for the coming calendar year.
* TATA MOTORS: Is offering benefits up to 100,000 rupees on most cars in December.
* TECH MAHINDRA: Has begun the process of dovetailing the next generation of officials into C-suite positions as current Chief Executive Officer C.P. Gurnani and Chief Operating Officer L. Ravichandran move on to non-executive position or reach superannuation.
* Zensar Technologies: Chief Financial Officer Manoj Jaiswal has resigned.
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* COLGATE PALMOLIVE INDIA: The board will consider second interim dividend on Dec 11 for the 2017-18 (Apr-Mar).
* EROS INTERNATIONAL MEDIA: Eros International, the parent of the company, has entered into
definitive agreement to raise $100 mln from an institutional investor.
* GODREJ INDUSTRIES: Plans to invest 500 mln rupees in its newly launched home furniture brand 'Script'.
* INDIAN OIL CORP: Has said that the impact of goods and services tax would be nearly 42 bln rupees as it would not be able to claim input tax credit for automotive fuels that fall outside GST. The talk of a complete phase out of fossil fuel powered vehicles by 2030 and the possible dominance of the roads by electric vehicles does not seem to have ruffled India's biggest oil refiner, the company, which says it will continue to make business-as-usual plans for its future.
-The company's partners in six pre-New Exploration and Licensing Policy blocks will have to share royalty, cess and other government charges with the state firm in proportion to their stakes, ending the current practice of the company alone bearing state levies for entire production.
* INFOSYS: Firm might be bracing up for another round of restructuring of its senior personnel.
* INSILCO: The board has approved discontinuation and cancellation of earlier proposal for implementation of coal fired hot air unit.
* INTERGLOBE AVIATION: The Delhi High Court has reserved its order on a plea filed by the company against shifting part of IndiGo's operations from Terminal-1 to Terminal-2 of Indira Gandhi International Airport.
* JSW STEEL: Arm JSW Infrastructure is looking to hire 30 ships that can move on sea and river carrying cargo between its Jaigarh and Dharamtar ports for the group's steel plant and the upcoming cement unit at Dolvi along Amba river in Maharashtra.
* JUBILANT LIFE SCIENCES: Has not received any formal approval from the government for its
application to obtain environmental clearance to set up a pesticide plant in the special economic zone at Bharuch in Gujarat.
* JUST DIAL: Two Sequoia Capital-owned funds have sold 1.5% stake, or 1.03 mln shares, of the company in separate bulk deals on the National Stock Exchange.
* MONSANTO INDIA: India's anti-trust regulator has fined the company 15 mln rupees for being too slow in replying to questions in a competition probe into the US seeds company.
* NESTLE INDIA: The board approved an interim dividend of 33 rupees per share.
* PUNJAB NATIONAL BANK: Got shareholders' approval for raising 50 bln rupees either through Qualified Institutional Placement or rights issue.
* RELIANCE COMMUNICATIONS: Fortuna Public Relations became the fifth company to file for an insolvency petition against the company to recover dues worth 4.3 mln rupees from the telecom company.
* RELIANCE INFRASTRUCTURE: The Supreme Court refused to grant early hearing to a plea seeking a probe into how the company was allowed to divert coal meant for its Sasan ultra mega power project. The Bombay High Court has struck down a proposal to hike fares of Mumbai Metro and directed the fare fixation committee to decide on the issue within three months.
* RURAL ELECTRIFICATION CORP: The company and Indian Railway Finance Corp could raise at least $600 mln by selling dollar bonds to investors in Asia and Europe in the next 10 days.
* SATHAVAHANA ISPAT: Andhra Bank has tagged the company as a non-performing asset because the debt restructuring under the Scheme for Sustainable Structuring of Stressed Assets was not feasible.
* SOBHA LTD: Plans to spend 30 bln rupees in construction cost to build 7-10 mln sq ft in four to six quarters.
* TATA COMMUNICATIONS: The company has earmarked a capital expenditure of $20-25 mln for its overall cloud business for the coming calendar year.
* TATA MOTORS: Is offering benefits up to 100,000 rupees on most cars in December.
* TECH MAHINDRA: Has begun the process of dovetailing the next generation of officials into C-suite positions as current Chief Executive Officer C.P. Gurnani and Chief Operating Officer L. Ravichandran move on to non-executive position or reach superannuation.
* Zensar Technologies: Chief Financial Officer Manoj Jaiswal has resigned.
